[Update] With the announcement of CPI data for the month of November 2016 (which is 277), DA for bank employees for February 2017 to April 2017 is expected to decrease by 0.50%. (Read how DA for Bank Employees is calculated)
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- CPI for the month October 2016 and November 2016 is 278 and 277 respectively. Assuming that CPI for December 2016 will remain constant at 277, DA for Bank Employees for the quarter February 2017 to April 2017 will be 47.30%.
Converting the CPI by multiplying with conversion factor (4.63 x 4.93) , it works out to 6345.60 for Oct and 6322.77 for Nov and Dec.
- Average for 3 months will be [6345.60+6322.77+6322.77/ 3] 6330.38.
- By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), it works out to 472.60 (rounded off to 473).
- Hence, the DA for the period February 2017 to April 2017 will be 47.30%.
- That means DA for the period February 2017 to April 2017 is expected to decrease by 0.50% as the DA for previous quarter was 47.80%.
We’ll update the expected DA for February 2017 to April 2017, next month on the release of CPI data for the month of December 2016.
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